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Bahrain set to privatize certain public services
Bahrain plans privatization of the countrys national airline Gulf Air within a year, announced the Chief Executive of the top economic planning body in Bahrain.
Bahrain is also planning privatization of other public services, ranging from hospitals to waste management, aiming to diversify its economy from oil and build a viable private sector and tax-based economy.
Gulf Air, in November, expected an operating loss of $500mn in 2009, and plans to return to profits by focusing on regional routes and reducing costs.
Sheikh Mohammed bin Essa Al Khalifa, the Head of Economic Development Board, agreed and confirmed about the privatization plans.
The Management of King Hamad Hospital, which is now under construction, and the petrol stations owned by Bahrain Petroleum Company (BAPCO) may be tendered to the private sector this year, Khalifa said.
He also said that contracting out management of postal services and waste water treatment is also under consideration.
In the long-term, Bahrain also plans to phase out subsidies, a sensitive issue which has sparked protests.
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